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President of Argentina visits IDB

Argentina’s President Nestor Kirchner visited the Inter-American Development Bank today, meeting with the Board of Executive Directors and with Bank President Enrique V. Iglesias to review economic policies and discuss future joint programs.

Kirchner also saluted Argentine employees of the Bank at a gathering at the IDB Cultural Center Art Gallery.

In a talk to the Board of Executive Directors, the Argentine president reviewed economic progress made in the past 12 months, characterized by a high growth rate, a reduction in unemployment, low inflation and an increase in tax collections and monetary reserves. He said monetary policy would continue to be “absolutely gradual and responsible.”

Kirchner welcomed future financing assistance from the IDB in the areas of energy infrastructure, poverty reduction and other strategic sectors, and he listed citizen’s security and institutional development among the future challenges.

During 2003 IDB loans to Argentina totaled $2 billion, with resources focused on projects for social protection of the poor. Other loans supported tourism and economic competitiveness. Disbursements from previous loans in that year totaled $2.65 billion.

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